Shinhan Bank Vietnam Limited (Vietnam)

On April 28, 2022, Shinhan Bank Vietnam was rated at BB by the international credit rating agency Standard & Poor's (S&P) and has a "Positive" development outlook. According to S&P, Shinhan Bank Vietnam plays an indispensable role in the global business expansion goal of Shinhan Financial Group - SFG. In addition, Shinhan Bank Vietnam also led SFG's expansion strategy in Vietnam by collaborating with non-banking institutions in this market to increase cross-product business opportunities. Shinhan Bank Vietnam is also the largest foreign profit driver for Shinhan Bank parent bank in South Korea and is a key unit of SFG. In the past few decades, Shinhan Bank Vietnam has not paid any dividends but used it to continue reinvesting to develop its business in the Vietnamese market.Since 1993, Shinhan Bank has had a commercial representative in Vietnam in the form of the first representative office in Ho Chi Minh City. In 2008, the subject was officially licensed under No. 341/GP-NHNN and became one of the first 5 banks with 100% foreign investment in Vietnam. Since 2019, its operation license no has changed to No. 106/GP-NHNN. Currently, Shinhan Bank Vietnam offers a diverse portfolio of products and financial solutions for both individual and corporate customers. After nearly 30 years of establishment and development, Shinhan Bank Vietnam has expanded its network of operations throughout the North, Central, and South Areas with about 46 branches and transaction offices. Until now, Vietnam has 9 banks with 100% foreign investment including ANZ, Standard Chartered Bank, Shinhan Bank, HSBC, Hong Leong Bank, Public Bank, CIMB Bank, Woori Bank, and UOB. Woori Bank Vietnam is the largest bank in terms of charter capital (VND 7,700 billion). The subject is ranked 5th position after Public Bank Vietnam with a charter capital of VND 6,000 billion. Shinhan Bank Vietnam is the first foreign bank in Vietnam to implement the Basel II Framework in December 2019. The early completion and implementation of Basel II affirms the capabilities, potential as well as special attention of Shinhan Bank Vietnam to risk management. In April 2022, the subject officially announced the application of LCR and NSFR ratios in liquidity risk management in accordance with Basel III standards. The continuous upgrading of the risk management system according to the most advanced international standards, confirms Shinhan Bank Vietnam's focus on risk management. In 2022, Shinhan Bank Vietnam is officially the first foreign bank in Vietnam to deploy the Google Wallet service, in order to bring customers a safe and convenient card payment experience and trend.